A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) Actual 50, 400 lbs. @ $7.10 per lb. 16, 200 hrs. @ $16.40 per hr. $206,100 8,300 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favc unfavorable. AH = Actual Hours SH = Standard Hours AR - Actual Rate SR - Standard Rate Actual Cost Standard Cost A manufactured product has the following information for June. Direct materials Direct labor Overhead Units manufactured Standard (6 lbs. @ $7 per lb.) (2 hrs. @ $16 per hr.) (2 hrs. @ $12 per hr.) Actual 50, 400 lbs. @ $7.10 per lb. 16, 200 hrs. @ $16.40 per hr. $206, 100 8,300 Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether each variance is favc unfavorable. AH = Actual Hours SH - Standard Hours AR - Actual Rate SR - Standard Rate Actual Cost Standard Cost